SHANGHAI, June 11, 2016 (Xinhua) -- Chinese Canadian actor Kris Wu and Chinese American actress Liu Yifei pose on the red carpet as they arrive for the opening ceremony of 2016 Shanghai International Film Festival in Shanghai, east China, June 11, 2016. (Xinhua/Pei Xin)
SHANGHAI, June 12 (Xinhua) -- China's box office is anticipated to surpass the United States in 2017 and claim the title of the world's largest, according to a report by international accounting firm PwC on Sunday.
The report forecasts that China's box office revenue will hit 10.3 billion U.S. dollars next year, while the United States is expected to ring up 10.14 billion U.S. dollars.
With a compounded average annual growth of 19.1 percent, China's box office takings are expected to hit 15.08 billion U.S. dollars by 2020, the report said.
The report estimates a whopping 49.3 billion U.S. dollars of box office earnings across the globe in 2020, with nearly one third of it to be generated in China.
Jiang Xiaoping, a PwC China partner, said the robust expansion of China's film industry is driving the global development.
According to predictions, revenue from advertising in the Chinese film industry will exceed 161 million U.S. dollars by 2020, and the average ticket price will climb to 6.04 dollars from 5.44 dollars currently.
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SHANGHAI, June 11 (Xinhua) -- Shanghai rolled out red carpet Saturday evening for the 19th Shanghai International Film Festival (SIFF), an international event attended by hundreds of celebrities and specialists from the global film industry.
At the opening ceremony at Shanghai Grand Theatre, British actor Ian McKellen and Chinese actor Jiao Huang recited the verses by William Shakespeare to salute the great playwright. Full Story
